Cash A/c

To Capital
Land
To Capital

Journal Entry
Dr
Dr
Rs. 270,000
Cr
Dr
Rs. 50,000
Cr

Shed
to cash
Electrical Fitting

Dr
Cr
Dr

to cash
F&F
to cash
Machines a/c
to cash
Tools
to cash
Deposit with Bike M/s
to cash
Purcahses A/c
to Creditors
Cash A/c
to sales
Cash A/c
to services
Electricity
to cash
Depriation
to shed
to elec fit
to f&F
toM/c
Closing Stock A/c
to P/L A/c
Creditors A/c
to Cash

Cr
Dr
Cr
Dr
Cr
Dr
Cr
Dr
Cr
Dr
Cr
Dr
Cr
Dr
Cr
Dr
Cr
Dr

Cr
Rs. 270,000
Rs. 50,000

Rs. 100,000
Rs. 100,000
Rs. 10,000
Rs. 10,000
Rs. 15,000
Rs. 15,000
Rs. 40,000
Rs. 40,000
Rs. 5,000
Rs. 5,000
Rs. 100,000
Rs. 100,000
Rs. 1,200,000
Rs. 1,200,000
Rs. 1,260,000
Rs. 1,260,000
Rs. 25,000
Rs. 25,000
Rs. 12,000
Rs. 12,000
Rs. 16,500

Rs. 16,500
Dr
Cr
Dr
Cr

Rs. 120,000
Rs. 120,000
Rs. 1,200,000
Rs. 1,200,000

Balance Sheet
Laibilities

Capital
Owner's Capital

Land
Rs. 320,000 Shed
(-)Depreciation
Rs. 171,500 Electrical Fitting
(-)Depreciation
F&F

Reatained earnings

Creditors
Creditors paid

Total Liabilities

Assets

Rs. 1,200,000
-Rs. 1,200,000

(-)Depreciation
Rs. 0 Machine
(-)Depreciation
Tools
(-) W/D
Deposit with M/s
Inventory
Cash
Rs. 491,500 Total Assets

Rs. 50,000
Rs. 100,000
-Rs. 10,000
Rs. 10,000
-Rs. 1,000
Rs. 15,000
-Rs. 1,500
Rs. 40,000
-Rs. 4,000
Rs. 5,000
-Rs. 5,000

Rs. 90,000
Rs. 9,000

Rs. 13,500
Rs. 36,000
Rs. 0
Rs. 100,000
Rs. 120,000
Rs. 73,000
Rs. 491,500

P/L
Expenses
Income
To purchases
Rs. 1,200,000 By sales
To electricty
Rs. 12,000 By Services
to Depreciation
Rs. 16,500
to tool written off
Rs. 5,000 By closing stock
Profit
Rs. 171,500

Rs. 1,405,000

Rs. 1,260,000
Rs. 25,000
Rs. 120,000

Rs. 1,405,000

Cash Account
Dr
To Capital
to sales
to services

Rs. 270,000 By Shed

Rs. 1,260,000 BY Electrical Fitting
Rs. 25,000 By F&F
By Machine
BY Tools
By deposit
By electricity
By creditors
By balance carried
down (c/d)
Rs. 1,555,000

Cr
Rs. 100,000
Rs. 10,000
Rs. 15,000
Rs. 40,000
Rs. 5,000
Rs. 100,000
Rs. 12,000
Rs. 1,200,000
Rs. 73,000
Rs. 1,555,000

Goodwill Account
to partner's capital
Purchases A/c
to credtors

Dr

Journal Entry
Dr
Rs. 101,500

Dr

Rs. 1,200,000

Cash A/c

Dr

to sales
Cash A/c
to services
Accounts Receivable
to services
Closing Stock A/c
to P/L A/c
Electricity Expenses
to Cash
Depriation
to shed
to elec fit
to f&F

Cr
Rs. 101,500
Rs. 1,200,000

Rs. 1,260,000
Rs. 1,260,000

dr

Rs. 20,000
Rs. 20,000

dr

Rs. 5,000

Dr

Rs. 240,000

Rs. 5,000
Rs. 240,000
Dr

Rs. 12,000
Rs. 12,000

Dr

toM/c
Cash A/c
Dr
to machineary a/c
to profit on sales of machineray
Cash A/c
Dr
to F&F a/c
to Loss om sales of F&F
Cash A/c
Dr
to debtors for service calls
Creditors A/c
Dr
to cash

Rs. 18,563
Rs. 11,250
Rs. 1,125
Rs. 1,688.00
Rs. 4,500
Rs. 35,000
Rs. 31,500
Rs. 3,500
Rs. 5,000
Rs. 11,812
Rs. 6,812
Rs. 2,500
Rs. 2,500
Rs. 1,200,000
Rs. 1,200,000

Balance Sheet
Laibilities
Capital
Owner's Capital
(+) Goodwill

Rs. 320,000
Rs. 101,500

Reatained earnings

Rs. 171,500

(+) Earning of this year

Rs. 158,438

Rs. 329,938

Rs. 1,200,000
-Rs. 1,200,000

Rs. 0

Creditors
(-) Creditors paid

Total Liabilities

Rs. 421,500

Rs. 751,438

Balance Sheet
Assets

Expenses

Goodwill
(-) Amortized
Land
Shed

Rs. 101,500
-Rs. 12,688

(-)Depreciation

-Rs. 11,250

Electrical Fitting
(-)Depreciation
F&F
(-)Depreciation
(-) Sales
Machine
(-)Depreciation
(-) sales

Rs. 88,813
Rs. 50,000

To opening stock
To purchases
To electricity

Rs. 78,750

to depreciation
to losses on sale of
F&F
to amortization

Rs. 90,000

Rs. 9,000
-Rs. 1,125
Rs. 13,500
-Rs. 1,688.00
-Rs. 11,812
Rs. 36,000
-Rs. 4,500
-Rs. 31,500

Rs. 7,875

Net Profit
Rs. 0

Rs. 0

Deposit with M/s

Rs. 100,000

Inventory

Rs. 240,000

Debtors for services provided

(-) Debtors paid

Rs. 5,000
-Rs. 2,500

Rs. 2,500

Cash carried down

Rs. 183,500

Total Assets

Rs. 751,438

Income
Sales (Revenue)
Cost of Sales
Opening Stock
(+) Purchases
(-) Closing Stock
Gross Margin
Operating Income
(-) Operating Expenses

EBIDTA (Operating
Profit)
Non operating income
(-)Non Operating Expenses
Net Income

(-) Dividend
Reatained Earnings

P/L
Expenses

Income
Rs. 120,000 By Sales
Rs. 1,200,000 By closing stock
Rs. 12,000 By services
by profit on
sales of
Rs. 18,563 machines

Rs. 1,260,000
Rs. 240,000
Rs. 25,000

Rs. 3,500

Rs. 6,812
Rs. 12,688
Rs. 158,438
Rs. 1,528,500

Rs. 1,528,500

Income Statement
Rs. 1,260,000
Rs. 1,080,000
Rs. 120,000
Rs. 1,200,000
-Rs. 240,000
Rs. 180,000
Rs. 25,000
-Rs. 12,000

Rs. 193,000
Rs. 3,500
-Rs. 38,063
Rs. 158,438

NIL
Rs. 158,438

Date
4/1/2009 Cash A/c
to capital
Dispensary Items
to cash
Equipment
to cash
Cash A/c
Debtor A/c
to services
Bad Debt A/c
to debtors
Salary A/c
to cash a/c
Electricity A/c
to Cash
to O/S Payments
Closing Stock
to P/L A/c
Closing Stock
to written off

Dr

Journal Entry
Dr
Cr
Rs. 125,000

125

Rs. 125,000
Dr

Rs. 62,500
Rs. 62,500
Rs. 250
Rs. 250

Dr
Dr

Rs. 73,750
Rs. 6,250
Rs. 80,000

Dr

Rs. 3,125

Dr

Rs. 2,400

Dr

Rs. 1,200

Rs. 3,125
Rs. 2,400
Rs. 1,100
Rs. 100
Dr

Rs. 31,250
Rs. 31,250

Dr

Rs. 15,625
Rs. 15,625

Balance Sheet
Laibilities
Owners Capital

O/S (Elec Expenses)

Retained earnings

Toat Liabilities

Assets

Rs. 125,000

Equipment

Rs. 100

Rs. 26,400

Rs. 151,500

Salary
Earning on interest
Total Amount

36000
Rs. 3,125
Rs. 39,125

Rs. 250

Debtors
(-) Bad Debts

Rs. 6,250
-Rs. 3,125

Closing Stock

Rs. 15,625

Cash

Rs. 132,500

Total Assets

Rs. 151,500

P/L
Expenses
To purchases
To bad debts
To salary
To electricity

Income
Rs. 62,500 By services
Rs. 3,125 By Closing Stock
Rs. 2,400 (-) Written off
Rs. 1,200

80000
Rs. 31,250
-Rs. 15,625
Rs. 15,625

Profit

Rs. 26,400

Total expenses

Rs. 95,625 Total income

Rs. 95,625

Cash Account
Dr
To capital
To services

Cr
Rs. 125,000 By purchases
73750 By equipment
By salary
By electricity
Cash C/D
Rs. 198,750

Rs. 62,500
250
Rs. 2,400
Rs. 1,100
Rs. 132,500
Rs. 198,750